Global Nasal Spray Market - 2023-2030

Market Overview

The Global Nasal Spray Market reached US$ 21.8 billion in 2022 and is expected to reach US$ 34.7 billion by 2030 growing with a CAGR of 6.1% during the forecast period 2023-2030.

The nasal spray market trends show rising product launches owing to the rising technologies and increasing research and development. The symptoms of a cold or an allergy, such as a runny nose, congestion, and sneezing, are usually treated with nasal sprays.

Furthermore, rising adoption of products for nasal spray due to the rising availability of designs and products, an increase in the number of pipelines in the market, and an increase in the research and development is driving up the nasal spray market size. The market is experiencing a growth demand for products from North American areas as a result of the rising advancements in this field with significant competitors like Novartis AG, Pfizer Inc., GSK Plc, and others actively operating in the market.

Market Dynamics

Rising Research and Development and Novel Product Launches Drive the Growth of the Nasal Spray Market

Several researches are being done by the key players for developing and launching novel products for treatment in the market which is driving the growth of the market. For instance, on March 29, 2023, the FDA has granted approval for NARCAN Naloxone HCl Nasal Spray with a dose of 4 mg as an OTC (over-the-counter) emergency therapy for opioid overdose, according to a statement from Emergent BioSolutions Inc.

This choice is being made at a time when an opioid overdose kills someone every eight minutes, and data indicates that the pandemic is getting worse in the United States as a result of the proliferation of synthetic opioids. The availability of NARCAN Nasal Spray as an over-the-counter remedy will enable anyone to obtain it without a prescription, which is a crucial step in the effort to lessen the number of opioid overdose deaths that take place every day. The market is predicted to take the lead throughout the forecast period as a consequence of the aforementioned claims.

Rising Collaborations and Product Pipeline by Key Players Creates Opportunities for the Growth of the Market

Collaborations, mergers, fundings and partnerships are strategies for driving the market growth. On August 30, 2023, in order to fund its current phase 3 COVID-19 prevention study and additional studies into its nitric oxide nasal spray (NONS), SaNOtize announced a $24 million series B financing. The Vancouver-based business was founded in 2017 with the goal of utilizing nitric oxide's antibacterial characteristics.

SaNOtize aimed to make the molecule usable in sprays, lavages, baths, gels, and creams using its platform for nitric oxide releasing solutions. A phase 3 trial being conducted by SaNOtize in Sri Lanka and Canada will assess NONS' capacity to shield those at risk of infection from COVID-19. For a period of 28 days, each participant will be administering a nasal spray comprising either nitric oxide or a placebo.

Side Effects Associated with Nasal Spray Products will hamper the growth of the market

Several side effects are shown by the nasal sprays. For instance, after using steroid nasal spray a stinging or burning feeling in the nose, crustiness or dryness in the nose, a dry and itchy throat, a bad taste in the mouth, itching, redness or swelling in the nose, and bleeding from the nose are possible side effects have been observed. Although they are uncommon, serious side effects can include changes in vision, such as impaired vision or an eye lens that is foggy, or breathing issues.

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Segment Analysis

The global nasal spray market is segmented based on product, design type, therapeutic drugs, application, end user and region.

Owing to High Utilization, the Steroid Nasal Spray from Product Segment Accounted for Approximately 38.2% of the Nasal Spray Market Share

The steroid nasal spray category held the largest market share in 2022 and is expected to maintain its dominance over the forecast period due to a growth in allergic problems incidence worldwide, amongst the population. Steroid nasal sprays have been utilized to locally or systemically administer drugs to the nasal cavities. They are applied locally to treat problems like allergic rhinitis and nasal congestion. Because it offers a pleasant alternative for injection or tablet, the nasal administration route is occasionally chosen for systemic therapy.

Through the nose, substances can be directly and swiftly absorbed. Numerous pharmaceuticals are available as nasal sprays for systemic delivery, including sedative-analgesics, migraine, osteoporosis, and nausea medications. Hormone replacement therapy, Parkinson's and Alzheimer's disease treatment, and other uses are also possible. Nasal sprays are thought to be a more effective drug delivery method with the potential to pass the blood-brain barrier.

Geographical Penetration

North America Accounted for Approximately 37.9% of the Market Share in 2022, Owing to the Strong Presence of Major Players and Increasing Healthcare Infrastructure Investment

Due to the rising need for nasal spray for treatment purpose in healthcare, manufacturers in North America have chances of increasing their operations. There are many producers and suppliers in North America and owing to the quick economic growth of the region, industrial production has expanded, driving the demand for nasal spray treatment.

Increasing expenditure on healthcare and rising adoption among people, advancement of technologies for products, and increase in pharmaceutical business establishment across the region are also contributing to the growth of nasal spray market share of this region.

It is also anticipated that the main healthcare organizations' and enterprises' collaborative research projects as well as new product development, which constantly seeks to improve available medications alternatives, will contribute to the expanding demand. Individuals are becoming more aware of various advanced products that are being utilized for providing better product, leading to the expansion of the market in this region. The above-mentioned factors further proves the dominance of North America on a global scale.

Competitive Landscape

The major global players in the nasal spray market include Novartis AG, Pfizer Inc., GSK Plc, Sanofi, Teva Pharmaceutical Industries Ltd., Novo Nordisk A/S, Viatris Inc, Bayer, EMERGENT and M8 PHARMACEUTICALS, INC. among others.

COVID-19 Impact Analysis

Russia Ukraine Conflict Analysis

Due to the low prevalence as well as absence of major market participants in this region, it is predicted that the Russia-Ukraine conflict will not have a significant effect on the worldwide nasal spray market. The growth of the global nasal spray market, however, is anticipated to be relatively unaffected by the import and export of raw materials over the forecast period.

By Product

• Decongestion Nasal Spray
• Saline Nasal Spray
• Steroid Nasal Spray
• Others

By Design Type

• Pump Bottles
• Pressurized Canisters

By Therapeutic Drugs

• Antihistamines
• Sedative-Analgesics
• Corticosteroids
• Combination Drugs
• Others

By Application

• Nasal Congestion
• Allergic and Non-Allergic (perennial) Rhinitis
• Sinusitis
• Migraine
• Others

By End User

• Hospitals
• Homecare
• Others

By Region

• North America

U.S.

Canada

Mexico

• Europe

Germany

U.K.

France

Spain

Italy

Rest of Europe

• South America

Brazil

Argentina

Rest of South America

• Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• On August 1, 2023, the Barlo (Carragelose) nasal spray has received market approval in Mexico, according to M8 Pharmaceuticals. For the marketing of Carragelose sprays for the nose in the Mexican and Brazilian markets, Marinomed stated in 2021 that it had entered into a license deal with the specialty biopharmaceutical business M8 Pharmaceuticals, based in Latin America. The product must be marketed in the area, and M8 is in charge of acquiring local market authorisation.
• On March 10, 2023, ZAVZPRET (zavegepant), the world's first and sole calcitonin gene-related peptide receptors antagonist nasal spray, has been approved by the U.S. Food and Drug Administration (FDA) for the immediate treatment of migraine in adults with or without aura. ZAVZPRET proved statistically stronger than placebo on the co-primary objectives of freedom from pain and the most troublesome symptom at two hours after dosage in its crucial Phase 3 study.
• On July 12, 2022, Astepro Allergy (Azelastine HCI.15%) in prescription strength is now marketed by Bayer as an over-the-counter (OTC) medication in retail outlets across the country. For both indoor and outdoor allergens, it is the first and sole OTC steroid-free antihistamine nasal spray. Additionally, compared to other OTC allergy sprays that take hours to start working, it starts working in just 30 minutes. Astepro Allergy temporarily improves nasal congestion, runny nose, sneezing, and itchy nose caused on by hay fever or different upper respiratory allergens in adults and children aged 6 and older.

Why Purchase the Report?

• To visualize the global nasal spray market segmentation based on product, design type, therapeutic drugs, application, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of nasal spray market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global nasal spray market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies